The worst trading advice you can get
Aug 18, 2022 at 11:46
935流覽
16 Replies
會員從Mar 18, 2022開始
48帖子
Aug 18, 2022 at 11:46
Lack of preparation
I came across this advice today
'You need to start trading. It doesn't matter if you know what you're doing or not, you'll figure it out later.'
No wonder that people lost their money when they get such advices!
Which, in my opinion, **is really bad.** First of all, there's no logic - if all you need is just start, why so many do not succed?
But most important, it's like telling the high school senior, *'it doesn't matter if you know what you're doing or not, just start doing surgeries, you'll figure it out later'*. What I want to say - without adequate preparation, you will be no more than a capital donor in the market. Trading is a serious job. You need knowledge, skill, and strong psyche. It doesn't come from the air.
If you want to know how serious and who you have on the other side of the market, check job offers from biggest brokers and funds. Having PhD and good programing skills is no surprising, it's become a standard - these are your opponents. That's the 'other side'. Do you really think, you have a chance with them with no preparation?
What was the worst advice you've received so far?
I came across this advice today
'You need to start trading. It doesn't matter if you know what you're doing or not, you'll figure it out later.'
No wonder that people lost their money when they get such advices!
Which, in my opinion, **is really bad.** First of all, there's no logic - if all you need is just start, why so many do not succed?
But most important, it's like telling the high school senior, *'it doesn't matter if you know what you're doing or not, just start doing surgeries, you'll figure it out later'*. What I want to say - without adequate preparation, you will be no more than a capital donor in the market. Trading is a serious job. You need knowledge, skill, and strong psyche. It doesn't come from the air.
If you want to know how serious and who you have on the other side of the market, check job offers from biggest brokers and funds. Having PhD and good programing skills is no surprising, it's become a standard - these are your opponents. That's the 'other side'. Do you really think, you have a chance with them with no preparation?
What was the worst advice you've received so far?
Huge Changes, New Ideas & Decline Of Traditional Investing
會員從Apr 09, 2019開始
538帖子
Aug 18, 2022 at 14:20
You need to start surgery. It doesn't matter if you know anything about medicine or anatomy, you'll figure it out once inside. A sentence that sounds absurd when said out loud. I don't know why some feel that replacing surgery with trading makes it more plausible. It makes me wonder if these morons try saying their tripe out loud sometimes.
If you can't spot the liquidity then you are the liquidity.
會員從Aug 05, 2021開始
401帖子
Aug 24, 2022 at 16:13
I was wondering how bad the advice would be once I saw the title, now I see. Let's just go out blindly throwing money into the wind, when we could have trained and prepared. I understand being excited and eager to start, but starting that way is just asking to blow your account and fail as a trader from the very start.
會員從Apr 09, 2019開始
538帖子
Sep 01, 2022 at 10:02
I wonder if there was a bit left out where they said first sign up to this broker using my link...
If you can't spot the liquidity then you are the liquidity.
會員從Apr 14, 2022開始
37帖子
Sep 03, 2022 at 08:58
I was advised to switch to live account from demo after a month, which I think is a very less time to understand the forex market.
會員從Aug 17, 2022開始
80帖子
Sep 12, 2022 at 10:46
The worst trading advice I ever got was that forex is about knowing the basics, and in-depth knowledge isn't important, which now seems unrealistic and ridiculous.
會員從May 19, 2020開始
438帖子
Sep 21, 2022 at 12:23
You don't have to do anything but just buy an EA that will trade.
@Marcellus8610
會員從May 19, 2020開始
438帖子
Sep 21, 2022 at 12:25
or another bad advice: trade without a strategy, you lucky guy
@Marcellus8610
會員從Sep 06, 2022開始
26帖子
Oct 04, 2022 at 11:07
Trading is all about luck - only those who become successful are lucky, or the market favours the most. That is the worst advice I have ever come across.
會員從Jul 23, 2020開始
869帖子
Oct 04, 2022 at 17:07
If you are in consistent losses, it means you are not yet enough knowledgeable for trading broker. In this case, you need both global economic knowledge and market technical knowledge.
會員從Sep 13, 2022開始
16帖子
Oct 11, 2022 at 10:44
Truly this is the worst advice. You should not enter the forex market without enough preparation. The first step that a beginner has to take is learning and demo trading. You should not be trading on a real account until you feel confident enough to risk real money in the process.
會員從Aug 19, 2021開始
244帖子
Oct 12, 2022 at 10:52
Oh I know one. The worst trading advice that I heard was:
- Oh dear buy my signals and you forget about what losses are forever.
😄😄😄
I did not buy those signals at all after that words lol.
- Oh dear buy my signals and you forget about what losses are forever.
😄😄😄
I did not buy those signals at all after that words lol.
會員從Sep 13, 2022開始
8帖子
Oct 18, 2022 at 10:43
Definitely the worst advice is what the OP stated. The person who gave it must not have been a well wisher of the trader at all!
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